On September 9, the Ministry of Finance and Economy (MOFE) held the main session of the 8th Korea-Africa Economic Cooperation (KOAFEC)* Ministerial Conference at the Grand Walkerhill Seoul. Marking the 20th anniversary of KOAFEC, the conference brought together ministerial-level officials in finance and ICT from 45 African countries to discuss the future direction of Korea-Africa economic cooperation under the theme “Harnessing AI and Digital Infrastructure for Africa’s Transformation.”
* An economic cooperation framework launched in 2006 to promote high-level economic policy dialogue and identify development cooperation projects between Korea and Africa.
1. Korea-Africa Cooperation for “AI for All”
In her congratulatory remarks at the opening ceremony, Prime Minister Han Seong Sook introduced President Lee Jae Myung’s vision of “AI for All,” emphasizing the need for solidarity and cooperation within the international community to ensure that all countries and people can benefit from the opportunities presented by AI. Building on the trust Korea and Africa have cultivated through KOAFEC over the past two decades, she proposed taking Korea-Africa cooperation on AI to the next level by combining Korea’s AI and digital capabilities with Africa’s growth potential.
Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol then outlined measures to advance Korea-Africa cooperation on AI in his opening remarks. He identified three key areas of cooperation – expanding AI infrastructure, deploying AI solutions across sectors and developing AI talent – and proposed advancing cooperation in these areas through concrete cooperation projects, including the K-AI Package.*
* A development cooperation model that combines EDCF-financed infrastructure with AI solutions, AI data centers, power supply facilities and other support in areas where Korea has strengths, including water resources, healthcare, energy, transportation and agriculture.
2. Discussing AI Applications alongside Digital Infrastructure
At the ministerial roundtable that followed, Deputy Prime Minister Koo and African Development Bank (AfDB) President Sidi Ould Tah served as co-chairs and discussed ways to apply AI across industries and public services, as well as ways to build the digital and power infrastructure needed to support its use.
In the first session, participants shared Korea’s experience in developing AI infrastructure and fostering AI talent, and explored how specific technologies and solutions, including AI-powered smart agriculture and disease diagnosis, could be applied to the agricultural and healthcare sectors in Africa. In the second session, participants exchanged views on expanding digital infrastructure, including data centers and power supply, to support AI adoption across Africa.
Based on the discussions, the two sides adopted the “2026 KOAFEC Joint Declaration” and agreed to expand cooperation across a range of areas, including industrialization, education, healthcare and agriculture, with a focus on the AI ecosystem and digital infrastructure. To implement the Joint Declaration, the two sides also formulated the “2027/28 KOAFEC Action Plan,” setting out concrete directions for cooperation over the next two years, and approved 13 KOAFEC Trust Fund projects across seven areas: AI and digital transformation, urban development, education and capacity building, agriculture, energy, environment and healthcare. Korean institutions and companies specializing in AI and digital innovation will participate in these projects as partners, bringing Korea’s technologies and experience to development efforts on the ground in Africa.
3. Extending Korea-Africa AI Cooperation to the Private Sector
The KOAFEC Ministerial Conference also focused on taking Korea-Africa cooperation on AI beyond the intergovernmental level by fostering private-sector collaboration and business initiatives. As part of these efforts, a ceremony was held to present K-AI Cloud Vouchers to participating African startups. The program, supported by the KOAFEC Trust Fund, provides African startups with access to Korea’s GPU- and NPU-based cloud infrastructure and technologies and supports them in developing AI products and services tailored to local needs in collaboration with Korean companies. On the Korean side, Elice Group will provide AI cloud services, while HealthOnCloud and Varo AI, among others, will work with African startups to develop relevant technologies and services. Going forward, additional participating companies will be selected, with support provided for business matching and the establishment of joint ventures (JVs) to facilitate local commercialization. Deputy Prime Minister Koo personally presented cloud vouchers to participating African companies and visited promotional booths set up by Korean companies and institutions in the AI and digital sectors, encouraging efforts to identify business opportunities that match Korean technologies with African needs.
Meanwhile, a KSP Regional Seminar for Africa was held in conjunction with the KOAFEC Ministerial Conference to review the achievements of the Knowledge Sharing Program (KSP) in the region. With around 100 attendees, including representatives from KSP-related organizations and other participants, the seminar showcased KSP success stories supporting industrial structural transformation in Africa and discussed future directions for cooperation.
Please refer to the attached files.
